❓ A WA parliamentary question addresses the government's stance on stamp duties, particularly concerning property transactions, given their significant contribution to state revenue and the existing budgetary constraints.
AnsweredQoN 439Legislative Council
QuestionView source ↗
The present state Treasurer said in the Legislative Assembly on 19 October 1999, that the original goods and services tax proposition involved the abolition of nine inefficient state government taxes, most of which are stamp duties. (1) Does the Government still regard stamp duties as inefficient taxes? (2) If so, will the Government commit to taking action to remove stamp duties from property transactions? Hon N.D. GRIFFITHS
AnswerView source ↗
I thank the member for some notice of this question. (1) The Government regards the more narrowly based stamp duties, such as those on cheques, leases and unlisted shares, as particularly inefficient. In keeping with the Intergovernmental Agreement on the Reform of Commonwealth-State Financial Relations, entered into by the previous Government, the Government intends to review the need to retain these stamp duties by 2005. (2) After payroll tax, stamp duty on property conveyancing is the largest source of taxation revenue over which the State Government has control, and it accounts for around 20 per cent of total state tax revenue. In light of this, and the difficult budgetary position inherited from the previous Government, it is not feasible to substantially reduce our reliance on conveyancing duty without compromising our ability to fund essential community services, such as health, education and law and order.
(1) Does the Government still regard stamp duties as inefficient taxes? (2) If so, will the Government commit to taking action to remove stamp duties from property transactions? Hon N.D. GRIFFITHS replied: I thank the member for some notice of this question. (1) The Government regards the more narrowly based stamp duties, such as those on cheques, leases and unlisted shares, as particularly inefficient. In keeping with the Intergovernmental Agreement on the Reform of Commonwealth-State Financial Relations, entered into by the previous Government, the Government intends to review the need to retain these stamp duties by 2005. (2) After payroll tax, stamp duty on property conveyancing is the largest source of taxation revenue over which the State Government has control, and it accounts for around 20 per cent of total state tax revenue. In light of this, and the difficult budgetary position inherited from the previous Government, it is not feasible to substantially reduce our reliance on conveyancing duty without compromising our ability to fund essential community services, such as health, education and law and order.
(2) If so, will the Government commit to taking action to remove stamp duties from property transactions? Hon N.D. GRIFFITHS replied: I thank the member for some notice of this question. (1) The Government regards the more narrowly based stamp duties, such as those on cheques, leases and unlisted shares, as particularly inefficient. In keeping with the Intergovernmental Agreement on the Reform of Commonwealth-State Financial Relations, entered into by the previous Government, the Government intends to review the need to retain these stamp duties by 2005. (2) After payroll tax, stamp duty on property conveyancing is the largest source of taxation revenue over which the State Government has control, and it accounts for around 20 per cent of total state tax revenue. In light of this, and the difficult budgetary position inherited from the previous Government, it is not feasible to substantially reduce our reliance on conveyancing duty without compromising our ability to fund essential community services, such as health, education and law and order.
Hon N.D. GRIFFITHS replied: I thank the member for some notice of this question. (1) The Government regards the more narrowly based stamp duties, such as those on cheques, leases and unlisted shares, as particularly inefficient. In keeping with the Intergovernmental Agreement on the Reform of Commonwealth-State Financial Relations, entered into by the previous Government, the Government intends to review the need to retain these stamp duties by 2005. (2) After payroll tax, stamp duty on property conveyancing is the largest source of taxation revenue over which the State Government has control, and it accounts for around 20 per cent of total state tax revenue. In light of this, and the difficult budgetary position inherited from the previous Government, it is not feasible to substantially reduce our reliance on conveyancing duty without compromising our ability to fund essential community services, such as health, education and law and order.
I thank the member for some notice of this question. (1) The Government regards the more narrowly based stamp duties, such as those on cheques, leases and unlisted shares, as particularly inefficient. In keeping with the Intergovernmental Agreement on the Reform of Commonwealth-State Financial Relations, entered into by the previous Government, the Government intends to review the need to retain these stamp duties by 2005. (2) After payroll tax, stamp duty on property conveyancing is the largest source of taxation revenue over which the State Government has control, and it accounts for around 20 per cent of total state tax revenue. In light of this, and the difficult budgetary position inherited from the previous Government, it is not feasible to substantially reduce our reliance on conveyancing duty without compromising our ability to fund essential community services, such as health, education and law and order.
(1) The Government regards the more narrowly based stamp duties, such as those on cheques, leases and unlisted shares, as particularly inefficient. In keeping with the Intergovernmental Agreement on the Reform of Commonwealth-State Financial Relations, entered into by the previous Government, the Government intends to review the need to retain these stamp duties by 2005. (2) After payroll tax, stamp duty on property conveyancing is the largest source of taxation revenue over which the State Government has control, and it accounts for around 20 per cent of total state tax revenue. In light of this, and the difficult budgetary position inherited from the previous Government, it is not feasible to substantially reduce our reliance on conveyancing duty without compromising our ability to fund essential community services, such as health, education and law and order.
(2) After payroll tax, stamp duty on property conveyancing is the largest source of taxation revenue over which the State Government has control, and it accounts for around 20 per cent of total state tax revenue. In light of this, and the difficult budgetary position inherited from the previous Government, it is not feasible to substantially reduce our reliance on conveyancing duty without compromising our ability to fund essential community services, such as health, education and law and order.
(1) Does the Government still regard stamp duties as inefficient taxes? (2) If so, will the Government commit to taking action to remove stamp duties from property transactions? Hon N.D. GRIFFITHS replied: I thank the member for some notice of this question. (1) The Government regards the more narrowly based stamp duties, such as those on cheques, leases and unlisted shares, as particularly inefficient. In keeping with the Intergovernmental Agreement on the Reform of Commonwealth-State Financial Relations, entered into by the previous Government, the Government intends to review the need to retain these stamp duties by 2005. (2) After payroll tax, stamp duty on property conveyancing is the largest source of taxation revenue over which the State Government has control, and it accounts for around 20 per cent of total state tax revenue. In light of this, and the difficult budgetary position inherited from the previous Government, it is not feasible to substantially reduce our reliance on conveyancing duty without compromising our ability to fund essential community services, such as health, education and law and order.
(2) If so, will the Government commit to taking action to remove stamp duties from property transactions? Hon N.D. GRIFFITHS replied: I thank the member for some notice of this question. (1) The Government regards the more narrowly based stamp duties, such as those on cheques, leases and unlisted shares, as particularly inefficient. In keeping with the Intergovernmental Agreement on the Reform of Commonwealth-State Financial Relations, entered into by the previous Government, the Government intends to review the need to retain these stamp duties by 2005. (2) After payroll tax, stamp duty on property conveyancing is the largest source of taxation revenue over which the State Government has control, and it accounts for around 20 per cent of total state tax revenue. In light of this, and the difficult budgetary position inherited from the previous Government, it is not feasible to substantially reduce our reliance on conveyancing duty without compromising our ability to fund essential community services, such as health, education and law and order.
Hon N.D. GRIFFITHS replied: I thank the member for some notice of this question. (1) The Government regards the more narrowly based stamp duties, such as those on cheques, leases and unlisted shares, as particularly inefficient. In keeping with the Intergovernmental Agreement on the Reform of Commonwealth-State Financial Relations, entered into by the previous Government, the Government intends to review the need to retain these stamp duties by 2005. (2) After payroll tax, stamp duty on property conveyancing is the largest source of taxation revenue over which the State Government has control, and it accounts for around 20 per cent of total state tax revenue. In light of this, and the difficult budgetary position inherited from the previous Government, it is not feasible to substantially reduce our reliance on conveyancing duty without compromising our ability to fund essential community services, such as health, education and law and order.
I thank the member for some notice of this question. (1) The Government regards the more narrowly based stamp duties, such as those on cheques, leases and unlisted shares, as particularly inefficient. In keeping with the Intergovernmental Agreement on the Reform of Commonwealth-State Financial Relations, entered into by the previous Government, the Government intends to review the need to retain these stamp duties by 2005. (2) After payroll tax, stamp duty on property conveyancing is the largest source of taxation revenue over which the State Government has control, and it accounts for around 20 per cent of total state tax revenue. In light of this, and the difficult budgetary position inherited from the previous Government, it is not feasible to substantially reduce our reliance on conveyancing duty without compromising our ability to fund essential community services, such as health, education and law and order.
(1) The Government regards the more narrowly based stamp duties, such as those on cheques, leases and unlisted shares, as particularly inefficient. In keeping with the Intergovernmental Agreement on the Reform of Commonwealth-State Financial Relations, entered into by the previous Government, the Government intends to review the need to retain these stamp duties by 2005. (2) After payroll tax, stamp duty on property conveyancing is the largest source of taxation revenue over which the State Government has control, and it accounts for around 20 per cent of total state tax revenue. In light of this, and the difficult budgetary position inherited from the previous Government, it is not feasible to substantially reduce our reliance on conveyancing duty without compromising our ability to fund essential community services, such as health, education and law and order.
(2) After payroll tax, stamp duty on property conveyancing is the largest source of taxation revenue over which the State Government has control, and it accounts for around 20 per cent of total state tax revenue. In light of this, and the difficult budgetary position inherited from the previous Government, it is not feasible to substantially reduce our reliance on conveyancing duty without compromising our ability to fund essential community services, such as health, education and law and order.
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